Top 4 Tricks for Making the Most Out of Paystand

Aug 21, 2023 by Zazil Martinez

From keeping your info up to date to diving into advanced features like Saved Search, we've got you covered. Get ready to make the most from Paystand and watch your accounts receivable process become a breeze.
If you’re using Paystand to ease your company's collection tasks, congratulations! Automation in the Accounts Receivable department will do wonders for your business.

However, we know that adopting new technologies also requires a process of adaptation. To make it easier, we have prepared our best tips to help you get the most out of Paystand.

Read on to find out how to make your new platform a faithful ally for your customer payments and a facilitator for your accounts receivable department. Here are our top 4 tips!


1. Keep Your Customer Databases Updated

We have already discussed the importance of keeping customer databases up to date. It is a good general practice and an excellent tool for the optimal functioning of Paystand.

A platform that automates processes must run like a well-oiled clock. Each piece must fit perfectly and be adequately maintained. Keeping our customer databases up to date is the essential maintenance we need.

For example, if you automatically send your customer their invoices, you still need to update who's responsible for their AP. There's a chance the email address has changed, and that invoice is never delivered. This tiny detail can delay processes for both your company and your customers.

This simple tip will help you make your operations fast and efficient. It will keep your team from working twice as hard and help your cash flow stay consistent. Make it a regular habit, and enjoy the benefits of good organization.


2. Have a customer onboarding

If you are still figuring out how to use Paystand, consider your customers! Both must be on the same channel to make their payments and your AR operations as smooth and easy as possible. Hence the importance of a quick introduction to the platform.

A quick meeting with your team and customers will be helpful and productive for both of you. Your team can review how the platform works while explaining it to your customers. This way, any questions that arise can be answered, and if you can't, Paystand's team of experts is ready to help.


3. Define your processes

All AR teams follow standard procedures to meet your company's financial obligations. However, each team has its dynamics, workflow, and unique working methods.

Automation facilitates these processes. But, to achieve optimal performance, they must be fully defined. Identifying and ordering the steps during each cycle will help Paystand learn how to execute them in the same way the team used to do it manually.

Maybe your team performed these processes "automatically" (not the same as automated) and has not thoroughly analyzed them. So, being clear on these will help you get the most out of the platform and further streamline your company's accounts receivable.


4. Use Saved Search

Last, the crown jewel of our tips is Saved Search. This works only on Netsuite and will save you a ton of time.

Saved Serch works by setting a reminder on your Netsuite Dashboard to get a filtered monthly report on what invoices come from Paystand payments. This will let you know how many of your clients are using Paystand and encourage those who aren’t to start doing so.

This feature streamlines the billing process and helps detect opportunity areas. Identifying which customers need to make payments through Paystand will allow you to adjust to their payment needs and unify processes with other customers.

The more payments you receive through Paystand, collections will be faster and billing more effective. You will also save on fees from other payment methods.

Start implementing these tips and make a habit of them. Take advantage of the benefits of automation in your accounts receivable and watch as you save resources and increase your revenue. This way, you’ll use Paystand to its full potential.

If, during this brief reading, some doubts about Paystand came up, don't worry! Contact one of our experts and let them answer all your questions. We are here to help you!